Paul Myners, the City’s middle man

Paul Myners holds the line between banks and the politicians and public baying for blood. Can the new minister steer a middle way?

Philip Falcone shorts Santander

American hedge-fund manager who made a killing by betting against the shares of HBOS now has Abbey in his sights

Failing Lehman in $100m payout plan

The company approved huge packages for executives days before it went bust, leaving thousands out of work

Five days that shook the world

As the markets dived, ministers, mandarins and bankers thrashed out a survival plan

Britannia looks at joining Co-op

The country’s second-largest building society, is talking to the Co-op’s financial services arm about creating a "super-mutual"

Councils invested £100m despite warnings

Local authorities were told months ago of the risks of investing in Icelandic banks because of fears about their stability

Bust Dawnay Day duo are beached

Administrators to the failed financial services and property conglomerate are about to seize two luxury Mangusta yachts

State to save HBOS and RBS in bank rescue

Figures emerge for the extent of the bank bailout by the Government, which could see bank shares suspended tomorrow

Hills steps down

Ken Hills is standing down as chief executive of TSC

Q&A: How investors are affected by share prices

Mark Atherton offers some advice on selling equity funds, compensation entitlement and possible buying opportunities

Funds battered by fears of investor panic

The market capitalisation of Britain's biggest fund managers slumped as share prices tumbled as much as 25 per cent

Goodwin willing to step down to help RBS

Chief executive says he will not continue in job if it will hinder bank's chance of obtaining Government rescue capital

Morgan Stanley and Goldman Sachs tumble

Moody's gloomy announcement on banks' prospects for revenue and profit precipitates further sell-offs in New York

Keeping an open mind on the markets

There has been a suggestion from certain quarters that global markets generally should take a breather. Bad idea

Lehman's demise triggers huge default

Auction of Lehman Brothers bonds yields less than 10 per cent, leaving insurers with a bill they may be unable to meet

Seven days that shook the world

Patrick Hosking explains what really happened in the worst week for financial markets since the 1987 crash and its affects

‘It’s irrational fear and panic'

The recent collapse is particularly alarming as it comes after half-point interest rate cuts by Western central banks

Many put their faith and cash in Iceland

Hospitals and universities are the latest victims of Icelandic banks as the huge scale of taxpayers’ investments emerge

Pension fund shortfall could widen to £50bn

Britain’s leading blue-chip retirement schemes could face a £15bn funding shortfall as a direct result of the rout in share markets

Clubs seek new, rich owners abroad

Losing more clubs to foreign buyers would mean a shift in balance of power: over half of the Premier League owned abroad